Search Results for: debt

Australians’ private debt has soared to 187 per cent of their income. Debt is up from about 70 per cent in the early 1990s. The jobless rate rose for the second straight month in December to 5.8 per cent, and underemployment, the number of workers wanting more hours, is near …

The largest mountain of debt in the history of the world just continues to grow even larger, and everyone knows that this colossal debt spiral is not going to end well. But we all keep playing along because nobody wants the party to end. Right now, there is an unprecedented …

With the fiscal cliff averted for now, it’ll be a few weeks until the debt ceiling debate is the next major money issue in Washington. Luckily, some economists say that crisis can be curbed as well, and all it will take is one very valuable coin. By February, the United …

Forget the complicated flowcharts, scenarios, and government-banking-system reacharounds, the global economic collapse has never been so easy to comprehend… [youtube height=”400″ width=”550″]http://www.youtube.com/watch?v=1qoq9jIjpNM[/youtube]

Many young college students, hoping to further their education, are deluded into accepting loans that they believe be can be payed once studies are completed and have received their degrees. This documentary explains how we are molded into an expectation of going through the grades of school, attending college and …

After a particularly devastating hurricane season, Puerto Rico has an uncertain future. Already mismanaged and saddled with debt, the island territory now faces the virtually insurmountable task of rebuilding its infrastructure and economy. But amidst the rubble and heartache lies one of the greatest opportunities in the modern era not …

The Bank for International Settlements has warned that record household debt levels amassed in the past decade have left Australians among the most vulnerable to a sharp rise in global interest rates. According to the Reserve Bank of Australia, household debt-to-income ratio for Australia is at an all-time high of 189%. …

Global central banks are unloading America’s debt. In the first six months of this year, foreign central banks sold a net $192 billion of U.S. Treasury bonds, more than double the pace in the same period last year, when they sold $83 billion. China, Japan, France, Brazil and Colombia led …

The amount of public debt racked up by the eurozone’s third largest economy reached a new record of €2.2 trillion in May, up by €23.4 billion in a month, the Bank of Italy said on Tuesday. The hike was attributed to increased Treasury liquidity, the fall in the euro and …

Russia held $66.5 billion in US treasury securities in April 2015, down from $116.4 billion in April the previous year. The amount of US government bonds held by Russia reduced by more than 40 percent in one year, according to figures released by the US Treasury on Monday. In April 2015, Russia held $66.5 billion in US government debt, down from …

Australia has this week joined the illustrious list of governments that have been able to borrow money at negative interest rates. The Australian Office of Financial Management, which manages the government’s debt programme, sold $200 million of inflation-linked bonds maturing in 2018 to 13 investors on Tuesday at a yield of …

The United States is roughly $17 trillion in debt, but President Barack Obama says there’s no reason to worry. Speaking with ABC News correspondent George Stephanopoulos this week, Pres. Obama downplayed concerns of an impending financial catastrophe, claiming quite to the contrary that the country is on track to turning …

In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices (click here and here for earlier installments on the same topic). This week I’ll consider what the bursting of this bubble could mean for the banks that have financed it. Figure 1 Betting the House For two decades after …

Some folks were peddling fiction… for everyone else, there’s this reality! No child (or student, or poor person, or grandchild, or debtholder, or healthy person, or retiree, or African American, or family, or homeowner, or renter) left behind untouched… Now that is a legacy. SOURCE

Editor’s note: this is due to accounting fraud. Remember when the debt stood still at $16,699,396,000,000 for 150 days? Just one day after President Barack Obama signed into law a bipartisan deal to end the government shutdown and avoid default, the US debt surged a record $328 billion, the first day …

Iceland’s government has announced that it will be writing off up to 24,000 euros ($32,600) of every household’s mortgage, fulfilling its election promise, despite overwhelming criticism from international financial institutions. The measure was introduced by the country’s prime minister, Sigmundur David Gunnlaugsson, the leader of the Progressive Party which won …

The Treasury, apparently dissatisfied with the speed of indirect bank and/or Fed-inspired monetization of its exponentially rising debt-load at ever-cheaper costs of funds, decided in June 2011 to allow the Chinese, with their equally large bucket of USDs to bid directly for US Treasuries. As Reuters reports, China can now bypass Wall …

Former Bank of England governor Mervyn King has warned that British banks are too weak to weather another financial crisis, adding that government officials haven’t “got to the heart” of what went wrong in 2008. Speaking to BBC Radio 4 on Monday, King criticised current measures being taken by the …

Chilean activist and artist Francisco Tapia, also known as ‘Papas Fritas,’ has stolen and burnt $500 million worth of “pagares,” or debt papers. He then uploaded the video onto social media, claiming he had “freed” students by setting the papers alight. The artist made his claim in a video that …

Back in mid-March, there was a brief scare after the start of the Ukraine conflict, when Fed custody holdings plunged by a record $104.5 billion (if promptly bouncing back the following week), leading many to believe that Russia may have dumped its Treasurys, or at least change its bond custodian. We noted …